Replies to post #23276 on ERHC Energy Inc (ERHE)

[TheDane]

Balance...This part is not fully established yet...

"What are the terms NOW going to be? Addax got away with a full carry and $18 million."

We only know a part of this and have to assume what Addax got for the $18 million. Maybe they got less than we think, plus it aint over yet.

I'm still astonished at the apparant missed (by many, not all)significance of this fact...

CVX executives went to see Brandhuber in abuja. They didn't call Addax, PXD, Sinopec, JDA. The stroke of genius and forsight was for ERHC to form "The Consortium" to bid on the blocks rather than just bring in a partner that they would go along with. Now ERHC is the only legitimate representative of "the Consortium" and they control the awards made to it.

Brilliant!

[snow]

I felt in the past that the Addax terms were not good for our company even if they were an improvement on past terms. $ 18 million is a symbolic sum of money in the circumstances.